The mortgage life insurance your bank sells is not normal life insurance. You're getting what is called creditor insurance. The bank is the creditor which means you're the debtor. Creditors worry about protecting themselves, not you. They also make nice profits from this type of insurance. How do you really protect yourself?
This podcast accompanies a blog post at Riscario Insider: http://blog.riscario.com/2011/07/pitfalls-of-mortgage-life-insurance.html
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